Why Lithuania?
The Lithuanian government strongly supports FinTech start-ups, by providing them with benefits that allow FinTech companies to get a license and access the European financial market at significantly lower incorporation and operational costs.
Here, in Lithuania, FinTech start-ups are provided with such privileges as:
- Obtaining e-money or payment institution license in 3 months;
- Sandbox regime which grants non-existence of regulatory sanctions for the first year;
- “Lite” bank license for specialized banks with minimum capital requirement – € 1 M;
- Full SEPA reachability (34 countries) via CENTROlink, a payment; system operated by the Bank of Lithuania, to non-banking institutions, including EMI and API;
- Ability to issue your own IBANs.